Daily Exchange Rate Forecasts

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In spite of the dovishness displayed by Reserve Bank of Australia (RBA) policymakers ahead of the weekend the ‘Aussie’ returned to a stronger footing on Monday. The weakness of the US Dollar helped to bolster the antipodean currency, particularly as the Federal Reserve still looks set to pursue a less aggressive pace of monetary tightening. [...]

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The Australian Dollar slumped on Friday after a midday speech from Reserve Bank of Australia (RBA) Deputy Governor Guy Debelle. The board member doused hopes that the RBA was planning on hiking interest rates soon by stating that there was no significance in the fact that policymakers discussed target interest rates of 3.5%. He further [...]

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Demand for the ‘Aussie’ slumped markedly in the wake of June’s labour market data, with the headline employment figure proving weaker than forecast. As May’s unemployment rate was unexpectedly revised up from 5.5% to 5.6% the mood towards the Australian Dollar rapidly soured, even though the data showed evidence of a greater shift towards full-time [...]

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Although there were concerns that markets had overreacted to the Reserve Bank of Australia’s (RBA) meeting minutes this was not enough to return the ‘Aussie’ to a weaker footing. Investors remain generally optimistic over the outlook of the Australian economy, even as the Westpac leading index showed a modest deterioration on the month. Demand for [...]

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Date: July 19th, 2017.

Markets were wrong-footed by the Reserve Bank of Australia’s (RBA) July meeting minutes, which proved unexpectedly hawkish in nature. The Australian Dollar entered a bullish run across the board as investors reacted to the news that policymakers had identified a target ‘neutral’ interest rate of 3.5%. This was seen to signal that 200bpts of interest [...]

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Even though China’s second quarter growth and production data bettered expectations this was not enough to shore up the ‘Aussie’. While the world’s second largest economy showed steady growth of 6.9% on the year the appeal of commodity-correlated currencies remained generally limited on Monday, even as base metal prices strengthened sharply. Confidence in the Australian [...]

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The Australian Dollar raced higher on Friday after the latest US economic data seriously disappointed. Despite an empty data calendar, the ‘Aussie’ was able to record gains of between 0.5% and 1% versus the major currencies. There is plenty on the economic data calendar this week to keep the Australian Dollar on the move. Tuesday [...]

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A sharp uptick in consumer inflation expectations kept the ‘Aussie’ on a stronger footing yesterday, encouraging a greater sense of optimism in the underlying strength of the domestic economy. With consumers anticipating that inflation will rise to 4.4% over the next twelve months this boosted hopes that the Reserve Bank of Australia (RBA) could return [...]

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A modest improvement in the Westpac consumer confidence index offered support to the ‘Aussie’ on Wednesday, even though sentiment was still rather less optimistic than hoped. With Australian credit card purchases found to have risen markedly on the month in May and risk appetite on the rise the Australian Dollar gained ground against its lower-yielding [...]

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Economic data yesterday was largely positive and so the Australian Dollar was able to record some minor advances. Although the ANZ Roy Morgan weekly consumer confidence index weakened from 114.5 to 113, the NAB business conditions index rose from 11 to 15; its highest level since 2008. The NAB business confidence index ticked higher by [...]

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